Categories
Harvard

Mathematical Economics at Harvard according to E. B. Wilson, 1936

A letter from E. B. Wilson of Harvard  to W. C. Mitchell of Columbia regarding mathematical economics at Harvard. Wilson appears to be not amused by what Schumpeter has done to the core theory course as formerly taught by Taussig. For some background see the proposal submitted by the economics department to establish courses in mathematical economics beginning 1933-34

My favourite sentence: “The fact is we are lousy with mathematical economics so near as I can make out. I suppose Leontieff leans pretty strongly that way.”

_________________________

 

HARVARD UNIVERSITY
SCHOOL OF PUBLIC HEALTH
55 SHATTUCK STREET

Boston, Massachusetts

3/27/36

 

DEPARTMENT OF VITAL STATISTICS

Edwin B. Wilson
Carl R. Doering

 

Professor Wesley C. Mitchell
161 West Twelfth Street,
New York, N.Y.

 

Dear Mitchell:

I understand Burbank plans for me to be giving next year the course on mathematical economics rather than the course on mathematical statistics which I am giving this year. This if Rollin Bennett were with us he could probably take my course.

There seems to be plenty of mathematical economics around Harvard and I judge that some people are pretty badly worried over the situation. Taussig’s great course on economic theory has now been taken over by Schumpeter and as far as I can find has been completely changed in that instead of covering a wide range of economic variables and points of view in oral discussion and trying to give the student some notion of how the theoretical economist may reason on the facts of a complicated world Schumpeter is practically giving mathematical economics. I don’t know that this is so but I am told that it is. The department is relying somewhat apparently on Chamberlin and Taylor to give general courses on economic theory without requiring much mathematics but the fact seems to be that the tradition that students should take the chief theory course which was Taussig’s and is now Schumpeter’s is so strong that practically nobody can escape Schumpeter’s course. I am told that he not only uses a great deal of mathematics, so that the course is really unintelligible to students who have not had at least two years of collegiate mathematics, but that more than this he marks the students not on how well they handle their economics in view of their total preparation but on their mathematical dexterity which makes it essential if a fellow is to have a high mark that he really be a pretty good mathematician. I have a notion that a good many members of the department are decidedly disturbed over the situation and are making some inquiries to find out whether it may not be possible for the department of mathematics to give a course more or less parallel to the one which it now gives which shall get the students further along in their mathematical notions in two years than is at present the case. You probably are aware that our layout in mathematics here is, like that elsewhere, designed primarily for students who are going to need a great deal of mathematical technique because of going into physics, or engineering, or astronomy, or mathematics itself, and isn’t ideally suited to those students who need a wide range of mathematical conceptions and a moderate range of technique and need to get it quickly as is best for students going into chemistry, physiology, economics, business, psychology, and so on. Now I happen to have repeatedly urged at Yale, at M.I.T., and informally here at Harvard where I am not technically connected with the department of mathematics, that our large institutions instead of giving one and the same course to all Freshmen and Sophomores in anything from 8 to 30 divisions should offer two parallel courses one of them directed to the students who needs to acquire a very considerable mathematical technique and covering topics selected with reference to the needs of such a person whereas the other should be differently conceived. It is a fact that an engineer with his courses on statics including strength of materials needs a pretty thorough grounding in trigonometric analysis. It is also important in the study of alternating current machinery. He may also need a considerable amount of analytical geometry if he is to be at home with ellipsoids of inertia and with stress and strain relations in the theory of materials. He must have considerable familiarity with the integration of differential equations. He really needs two and a half years of continuous and hard mathematics. Now for the other people whom I mentioned trigonometry is a matter that can be covered in very few exercises. They don’t have to do surveying, they don’t have to solve triangles, they don’t have to do analytical statics. On the other hand they do need rather more algebra, including choice and chance, for which there is no special necessity on the part of the engineer or physicist, at any rate at an early stage and they do need to get through with their mathematics say in a year and a half instead of two, and a half years. It is all perfectly simple to do in all institutions large enough so that there is no additional cost in running two parallel courses instead of a single course but I don’t know of any institution that does it. If I were arranging the courses on mathematics for the Freshman and Sophomore years in our major institutions there would be much greater variety in the offering, but this is beside the point. The fact is we are lousy with mathematical economics so near as I can make out. I suppose Leontieff leans pretty strongly that way.

I am sorry you have so much administrative work in the National Bureau. I wish you could be let alone to do your research. For that matter I wish I could. I am in too many things and this job for the National Resources Committee has been a great burden to me this year. Then Gay resigned from the Executive Committee on the Tercentenary and I was put in his place. The president has put me on his project committee to represent sociology as near as I can make out. My time has been dissipated. Some of the things that I was anxious to do when I gave up the presidency of the SSRC I have done but there still remain to be done a great many of those things which I had every reason to believe would have been finished by this time. In the meantime I suppose I have done a few other odds and ends that weren’t on my program because my position here is essentially a consulting position and I have to take in and think about problems which have been initiated by other persons but which can’t be wound up by them because they haven’t adequate knowledge of statistical methods and I fear even not of logical methods.

I wish the SSRC this summer would go up to the South Shore or the North Shore so that their members would be near at hand for the Tercentenary Conference of the social sciences. It would seem to me that the Symposium on Factors Affecting Human Behavior and that on the Relations of Authority to the Individual and that on Cultural Diffusion which occupy the 5 days from September 7th to September 11th inclusive would be right up the main track of the SSRC and that we would be likely to have more of the people here if the Council met up in this vicinity. I daresay that wherever it meets I shan’t have much time for it because of pressure of work on the small committee consisting of Shapley, Henderson, Nock and myself with Jerome Greene which is to take care of the Academic end of this large conference.

Yours very sincerely,
[signed: E. B. Wilson]

 

Source: Columbia University Libraries Manuscript Collections. Mitchell, W. C. Collection, Box 14 (Correspondence Ve—Z), Folder “Wilson, Edwin B., Boston, 27 March 1936, To Wesley C. Mitchell”.

Categories
Chicago Curriculum Fields

Chicago. Advanced General Survey Courses in Economics. Memo, 1926

The memo of this posting was written by the head of the Chicago department of economics, Leon Carroll Marshall. I have chosen this to begin a category “Fields”. The groups named below were tasked with preparing bibliographies, not for use in the survey courses, but to make explicit the level of preparation expected of students in those courses. Cox and Mints by the following summer apparently established “Money and banking” as a field distinct from business finance (a memo in the same folder dated August 9, 1927).  It is also interesting to note that Marshall seems to have thought it important to pair economics and business in as many fields as he could.

______________________

November 30, 1926

Memorandum from L. C. Marshall to All Persons Mentioned Herein:

The problem attacked in this memorandum is that of carrying through effectively our arrangements with respect to our advanced general survey courses—courses that in the past we have sometimes referred to as “Introduction to the Graduate Study of X,” although we are not now following this terminology.

The following background facts will need to be kept in mind:

  1. We are to have introductory point of view courses designed to give an organic view of the Economic Order. These courses are numbered 102, 103, 104.
  2. Our next range of courses is designed primarily to deal with method. This range includes: 1. Economic History; 2. Statistics; 3. Accounting; 4. Intermediate Theory.
  3. The foregoing seven courses are the only courses for which we assume responsibility as far as the ordinary [Arts and Literature] undergraduate is concerned. It may well be that from time to time some member of the staff will be interested in giving for undergraduates a course on some live problem of the day, but this is an exceptional matter and not a matter of our standard arrangement.
  4. Our best undergraduates may move on to the type of courses referred to above in the first paragraph, such as courses 330, 340, 335, 345, etc. In general the prerequisites for admission to these courses (as far a undergraduates are concerned) would be a certain number of majors in our work plus 27 majors with an average of B. Under the regulations which the Graduate Faculty has laid down, students who have less than 27 majors could not be admitted to these courses except with the consent of the group and Dean Laing.

 

It is highly essential that our work in these advanced survey courses such as 330, 340, 335, 345, etc. shall:

  1. Really assume the method courses mentioned above: really be conducted at a level which assumes that the student possesses certain techniques.
  2. Really assume an adequate background of subject-matter content.

 

Will the person whose name is underscored in each group undertake (as promptly as reasonably may be) the responsibility of conducting conferences designed

  1. To lead to explicit definite arrangements looking toward the actual utilization of the earlier method courses in these advance survey courses
  2. To prepare a bibliography that can be mimeographed and placed in each student’s hands who enters one of these advanced survey courses. This bibliography is not to be a bibliography of the course (that is a separate matter) but a bibliography of what is assumed by way of preparation for the course. Whether a somewhat different bibliography should be made for the Economics course and the Business course in a given field is left for each group to discuss. Personally I hope that it will be a single bibliography for the two. Mr. Palyi suggests the desirability of a bibliographical article (worthy of publication) for each field. This seems to me an admirable suggestion—one difficult to resist.

 

Will each leader of the group referred to below please put the outcome of your discussion in writing and send to the undersigned? It is to be hoped that you will find other matters to report upon in addition to the foregoing.

GROUPS

  1. The Financial System and Financial Administration

Meech, Mints, Cox, Palyi

  1. Labor and Personnel Administration

Douglas, Millis, Stone, Kornhauser

  1. The Market and the Administration of Marketing

Palmer, Duddy, Barnes, Dinsmore

  1. Risk and Its Administration

Nerlove, Cox, Millis, Mints

  1. Transportation, Communication and Traffic Administration

Sorrell, Wright, Duddy, Douglas

  1. Government Finance

Viner, Millis, Douglas, Stone

  1. Population and the Standard of Living

Kyrk, Douglas, Viner

  1. Resources, Technology and the Administration of Production

Mitchell, Daines, McKinsey

 

The following fields are not included in this memorandum either because of specific course prerequisites or because of obvious difficulties in the case:

  1. Economic Theory and Principles of Administration
  2. Statistics and Accounting
  3. Economic History and Historical Method
  4. Social Direction and Control of Economic Activity.

 

Source: University of Chicago Archives. Department of Economics, Records. Box 22, Folder 6.

Image Source: Leon Carroll Marshall. University of Chicago Photographic Archive, apf1-04114, Special Collections Research Center, University of Chicago Library.

Categories
Chicago Columbia Cornell Harvard Johns Hopkins Michigan Pennsylvania

Top Eleven Economics PhD Programs in US, 1934

A listing of 22 U.S. graduate programs in economics judged by majority vote of a jury of 54 individuals (identified by name) to be adequately staffed and equipped for work leading to the doctorate in Economics. Eleven of those programs were designated to be “distinguished”.

________________________________

Excerpt from:

American Council on Education.
Report of Committee on Graduate Instruction.
Washington, D. C., April 1934.

…In preparing a list of graduate schools the following procedure was followed:

  1. A list of 50 fields of knowledge in which it seemed possible to study the graduate work was prepared. The study as concluded covered only 35 fields.
  2. A list of the 50 fields was sent to the Dean of the graduate school of every institution known to be offering work for the doctorate. The Dean was requested to check the fields in which graduate work for the doctorate was offered, to indicate the number of doctorates conferred in the last 5 years, and to submit a list of the graduate faculty in each field. The responses of the deans varied in accuracy and comprehensiveness.
  3. From the reports of the deans, supplemented by study of catalogs, lists of institutions offering graduate work for the doctorate in each field, were prepared, complete so far as our information went.
  4. The secretary of the national learned society in each field was requested to provide a list of 100 well-known scholars distributed, as far as possible, among the various special branches of the field.
  5. To each of these scholars was sent a list of all the institutions offering work for the doctorate in the field with their respective graduate staffs in the field. Each scholar was requested to check those institutions which in his judgment had an adequate staff and equipment to prepare candidates for the doctorate; and to star the departments of the highest rank, roughly the highest 20 per cent.
  6. The returns from these scholars were summarized, and those institutions accorded a star by the majority voting were placed in the starred group; those checked by a majority, but failing of a majority of stars, were placed in the group of those adequately staffed and equipped….

…Many votes on departments came in too late for inclusion in tabulations.

[…]

ECONOMICS
100 ballots sent out.
61 returns; majority, 31 votes.
535 doctorates were conferred in the period 1928-1932: 53 institutions offered work for doctorate.

Composite ratings were made from reports of the following persons: James W. Angell, George E. Barnett, J. W. Bell, A. B. Berglund, Roy G. Blakey, E. L. Bogart, O. F. Bouche, F. A. Bradford, T. N. Carver, J. M. Clark, Clive Day, F. S. Deibler, Paul Douglas, F. A. Fetter, Irving Fisher, F. B. Garver, Carter Goodrich, C. E. Griffin, M. B. Hammond, Alvin Hansen, C. D. Hardy, B. H. Hibbard, H. E. Hoagland, Grover G. Huebner, John Ise, Jens Jensen, Eliot Jones, Edwin Kemmerer, James E. LeRossingnol, H. L. Lutz, David McCabe, H. A. Millis, Broadus Mitchell, Wesley C. Mitchell, H. G. Moulton, C. T. Murchison, E. G. Nourse, E. M. Patterson, Carl Plohn, C. O. Ruggles, W. A. Scott, Horace Secrist, S. H. Slichter, T. R. Snavely, W. E. Spahr, R. A. Stevenson, G. W. Stocking, Frank P. Stockton, H. C. Taylor, Jesse Tullock, Francis Tyson, Jacob Viner, G. S. Watkins, A. B. Wolfe.

The jury named above has by a majority vote approved the following institutions as adequately staffed and equipped for work leading to the doctorate in Economics, starring which it considers most distinguished:

Brown University

*

University of Chicago

*

Columbia University University of Illinois

*

Cornell University University of Iowa

*

Harvard University—Radcliffe College

*

University of Michigan
Johns Hopkins University

*

University of Minnesota
New York University University of Missouri
Northwestern University

*

University of Pennsylvania
Ohio State University University of Texas

*

Princeton University University of Virginia
Stanford University

*

University of Wisconsin

*

University of California

*

Yale University

[…]

 

Source: Columbia University Rare Book & Manuscript Library. William Vickrey Papers, Box 35, Folder “510.7/1934/Am3”.

Categories
Chicago Columbia Economists Transcript

Milton Friedman’s Coursework in Economics, Statistics and Mathematics

Before Milton Friedman could be a teacher of economics, he was of course the student of many teachers. This list of his relevant coursework and teachers is complete. I merely add here that his transcript also shows three semesters of college French and four semesters of college German and that he entered Rutgers with advanced credits in French.

Rutgers University
University of Chicago
Columbia University
Dept. of Agriculture Graduate School

Rutgers University (1928-32)

Principles of Economics E. E. Agger 1929-30
Money and Banking E. E. Agger 1930-31
Statistical Methods Homer Jones 1930-31
Business Cycles Arthur F. Burns 1931-32
Economic Research Ivan V. Emelianoff 1931-32
Principles of Insurance Homer Jones 1931-32
College Algebra 1928-29, 1st term
Analytical Geometry 1928-29, 2nd term
Calculus 1929-30
Advanced Calculus 1930-31
Theory of Numbers 1929-30, 2nd term
Theory of Equations 1930-31, 1st term
Differential Equations 1930-31, 2nd term
Analysis 1931-32
Elliptic Integrals 1931-32, 2nd term

 

University of Chicago (1932-33, 1934-35)

Econ 301 Prices and Distribution Theory Jacob Viner Autumn Quarter 1932
Econ 302 History of Economic Thought Frank H. Knight Winter Quarter 1933
Econ 303 Modern Tendencies in Economics Jacob Viner Spring Quarter 1933
Econ 311 Correlation and Curve Fitting Henry Schultz Winter Quarter 1933
Econ 312 Statistical Graphics Henry Schultz Spring Quarter 1933
Econ 330 Graduate Study of Money and Banking Lloyd W. Mints Autumn Quarter 1932
Econ 370 International Trade and Finance Jacob Viner Winter Quarter 1933
Econ 220 Economic History of the United States, not taken for credit Chester Wright Winter Quarter 1935
Econ 220 Economic History of Europe, not taken for credit John U. Nef Autumn Quarter 1934
Labor (visited) Paul H. Douglas  1934-35
Theory of Demand (visited) Henry Schultz  1934-35
Math 306 Introduction to Higher Algebra  E. Dickson Autumn Quarter 1932
Math 341 Calculus of Variations  G. Bliss Autumn Quarter 1932
Math 324 Theory of Algebraic Numbers  A. Albert Winter Quarter 1933
Math 310 Functions of a Complex Variable (not taken for credit) L. M. Graves

 Master’s thesis: An empirical study of the relationship between railroad stock prices and railroad earnings for the period 1921-31.

 

Columbia University (1933-34)

Stat 111-12 Statistical Inference Harold Hotelling Winter/Spring semesters
Econ 117-18 Mathematical Economics Harold Hotelling Winter/Spring semesters
Econ 119 Economic History V. G. Simkhovitch Winter semester
Econ 128 Currency and Credit James W. Angell Spring semester
Econ 211-12 Business Cycles Wesley Claire Mitchell Winter/Spring semesters
Econ 315-16 Economic Theory Seminar John M. Clark, James W. Angell, and Wesley C. Mitchell Winter/Spring semesters
Social Economics (visited) J. M. Clark
Labor (visited) Leo Wolman
Theory (visited) R. W. Souter

 

Department of Agriculture Graduate School (1936-37)

Statistics 17-18 Adjustment of Observations

Source: Assembled from transcripts and course lists kept by Milton Friedman. Hoover Institution Archives, Milton Friedman Papers, Box 5, Folders 11, 13 (Student years).

Image Source: Columbia University, Columbia 250 Celebrates Columbians Ahead of Their Time.